Charles Schwab Investment Management Inc. Has $358.50 Million Stake in Marathon Petroleum Co. (NYSE:MPC)

Charles Schwab Investment Management Inc. trimmed its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,416,402 shares of the oil and gas company’s stock after selling 63,235 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.64% of Marathon Petroleum worth $358,497,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MPC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Marathon Petroleum in the fourth quarter worth about $25,000. Bruce G. Allen Investments LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter worth about $32,000. Bare Financial Services Inc acquired a new position in Marathon Petroleum in the fourth quarter valued at about $32,000. Pittenger & Anderson Inc. bought a new position in shares of Marathon Petroleum in the fourth quarter valued at approximately $36,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in Marathon Petroleum during the 4th quarter valued at $40,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 0.2 %

MPC stock traded up $0.33 during mid-day trading on Wednesday, reaching $181.25. The company had a trading volume of 632,076 shares, compared to its average volume of 2,739,426. The company has a market capitalization of $63.86 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 1.52 and a beta of 1.55. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99. Marathon Petroleum Co. has a 52 week low of $104.32 and a 52 week high of $221.11. The stock has a 50 day simple moving average of $194.58 and a two-hundred day simple moving average of $168.73.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. The company had revenue of $32.71 billion during the quarter, compared to analysts’ expectations of $32.07 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The business’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.09 earnings per share. As a group, equities analysts predict that Marathon Petroleum Co. will post 19.96 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be paid a $0.825 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $3.30 dividend on an annualized basis and a yield of 1.82%. Marathon Petroleum’s dividend payout ratio (DPR) is 16.48%.

Marathon Petroleum announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, April 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to buy up to 7.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MPC shares. The Goldman Sachs Group raised their target price on Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Scotiabank raised their price target on shares of Marathon Petroleum from $175.00 to $207.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Bank of America boosted their target price on Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Wells Fargo & Company upped their target price on shares of Marathon Petroleum from $214.00 to $227.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Finally, Citigroup started coverage on shares of Marathon Petroleum in a report on Wednesday, January 24th. They issued a “neutral” rating on the stock. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average target price of $191.62.

Insider Buying and Selling at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 1,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $170.35, for a total transaction of $170,350.00. Following the completion of the transaction, the director now owns 23,446 shares of the company’s stock, valued at approximately $3,994,026.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.21% of the company’s stock.

Marathon Petroleum Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.